Posts Categorized: Video Updates

Where are the Controls?: Corporate Ethical Breaches Identified by Auditors

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

According to a 2011 internal audit, executives at the British drug maker GlaxoSmithKline were warned about critical problems with the way the company conducted research at its drug development center in China. Potential financial risk and regulatory action are likely due to the sales practices that are currently at the center of a bribery and… Read more »

Cooking Empire Crumbles

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

Questions: 1. Do you think that the businesses were right in dropping Ms. Deen’s licensing and merchandise endorsements? 2. Discuss the millions of dollars Ms. Deen will lose in terms of what financial statements and accounts affected. Be as specific as possible. 3. How did the whole Paula Deen incident start and what is the… Read more »

Would you prefer a payroll card to direct deposit?

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

More and more American workers are facing fees before they are able to access their wages on payday. Why? Prepaid cards have been issued by their employers to replace direct deposit or paper paychecks. Questions: 1. Who are some of the well-known companies using these prepaid cards? Why is the New York attorney general getting… Read more »

Right on the Money

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Back in January, when Jacob “Jack” Lew was a mere nominee for the position of Secretary of the Treasury, the New York Magazine described his signature as a “slinky that has lost its spring.” Now, as the official Treasury secretary, his signature has changed. Questions: 1. Why were people worrying about Lew’s signature in the… Read more »

The Goldilocks Number

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Why does Wall Street like a “Goldilocks number” when it comes to job growth? Job growth in May kept up with the year’s monthly average, with 175,000 new jobs added. Meanwhile, the unemployment rate increased slightly to 7.6 percent. Questions: 1. What is the role of the Federal Reserve regarding the risk Wall Street sees?… Read more »

Why is the IMF chief in court?

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

Recently, Christine Lagarde was grilled by a French court in regards to a business settlement with disgraced tycoon Bernard Tapie in 2007. Questions: 1. What is the IMF? Why was the IMF in the news in 2011? 2. What is the controversy about? Is anyone alleged to have profited from the incident? 3. What does… Read more »

The Value of Newsjacking

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Newsjacking refers to the practice of capitalizing on the popularity of a news story to amplify your sales and marketing success. The term was popularized in David Meerman Scott’s book Newsjacking: How to Inject Your Ideas into a Breaking News Story and Generate Tons of Media Coverage. In this video, Christine Romans and PR expert… Read more »

The Tragedy of “Fast Fashion”

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A garment factory, manufacturing products for international clothing companies, collapsed outside of Dhaka, Bangladesh, last month. The collapse killed more than 400 workers and injured many others. This tragedy came on the heels of a factory fire in November 2012, which killed 112 workers. Questions: 1. Who are some of the chains that supply “cheap… Read more »

Austerity Brings about Desperate Times and Desperate Acts

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

Two penniless Spanish men chopped off their own hands and tried to claim the insurance payout as accidents. Unfortunately for them, both have been exposed as fraudsters because they performed the amputations too well to be accidents. Both cases come amid a steep rise in the number of false insurance claims that have been revealed… Read more »

Did you know that cash absorbs the smell of marijuana?

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

John Davis, CEO of Northwest Patient Resource Center, runs two medical marijuana dispensaries in Seattle. In Washington state, Davis runs a legal enterprise that generates thousands of dollars each quarter in state tax revenues. However, since selling pot is still a federal crime and banks are regulated by the Federal Deposit Insurance Corporation, banks are… Read more »